2020-06-15 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                                 15 JUNE 2020

Figure 1: Actual Performance Compared to Budget

 $100                  $93.3       $93.0      YTD Budget ($m)
   $90
                                              YTD Actual ($m)       $79.6       $78.2
   $80
   $70
   $60
   $50
   $40
   $30
   $20
   $10
     $-
                     Operating Revenue                          Operating Expenditure

YTD performance against Council’s key measures of financial sustainability have been calculated
as at May 2020. These indicators enable the reader to assess Council’s success in managing its
budget, cash and debt as well as undertaking sustainable asset management. The table below
contains a snapshot of a number of key measures, with full detail included in the report.

 YTD Measures of Financial Sustainability
                                   Target            Target           Current           Actual       30 June
                                   Value              Date            Budget             YTD          Status
 Operating Surplus Ratio           0-10%       30 June 2020            0.0%             8.8%          Watch
 Net Financial Liabilities Ratio   <60%              Ongoing           -9.4%            -27.3%       On Target
 Cash Cover Ratio                  3 months          Ongoing        6.6 months      9.4 months       On Target
 Asset Sustainability Ratio        > 90%       30 June 2020            129%             75.0%        On Track



RECOMMENDATION
That Council note the report by the Manager Financial Services to the General Committee Meeting
dated 15 June 2020 outlining May 2020 year to date financial performance against budget,
including key financial sustainability indicators.

REPORT
Operating Revenue (YTD Benchmark 91.7%)
Council has received 96% ($95.4 million) of its operating revenue budget ($99.8 million).
Commentary on each revenue category is provided below.

 Category              Summary                           Comments
 Rates and Levies      $69.0 million (100%) of the            General rates $135k above YTD budget (100%
                       annual budget of $68.7                  or $51.1 million of $51.0 million budget earned)
                       million has been earned                Waste utility charges $52k above YTD budget
                                                               (100% or $12.8 million of $12.8 million budget
                                                               earned) – the positive variance from previous
                                                               months has reduced back to YTD budget due to
                                                               businesses reducing waste collection services
                                                               due to the COVID-19 pandemic


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